Dallas, TX (PRWEB) June 01, 2011
Paragon GPS Inc., a technology developer of GPS/RFID based consumer and industrial products used for location tracking of people, assets, vehicles, and pets announced today the Company’s has hired international business executive Mervyn Price as the new Chief Executive Officer.
Paragon Chairman Charles Skylis stated, “I am delighted to add Merv on to Team Paragon and look forward to his exceptional role and leadership in continuing to forge the company and its technology into the forefront of GPS and global tracking technology. Our new CEO brings to Paragon an international level of business expertise and his relationships around the globe should help accelerate our success.”
Mr. Price brings to Paragon with him a sterling career highlighted by several achievements in industry involving start up, turn around, right sizing and investment restructuring, Mervyn Price commenced his career in the semiconductor industry following his bachelor of science in computing from London and an Executive MBA in econometrics and finance from the LSE. Mervyn was co-founder of Amega Electronics, now a major player in European Microelectronics and concurrently enjoyed an industry career which involved building European account base penetration working for design wins with many now famous industry semiconductor start ups. After founding a leading international market research company, Strategic Market Analysis in the ninety’s, Mervyn has since spent his career very successfully working for specialist investment groups and large private corporations in right sizing, turn around, consolidation and restructuring and developing owner exit strategies using proprietary ABM SIS finance and management systems and LSS techniques, many pioneered by Mervyn. He has worked for extended periods with investment groups having specialist corporate requirements, including technology enhancement, diversification or divesting, IP protection and value enhancement and structuring with profit enhancement, often assuming the role of CEO or COO during the positive transition periods. Mervyn is happily married to his Texan wife of many years, Marian and they provide shelter for three cats, Monty, Patton and Angus. Mervyn is an avid sailor, and has spent several voyages navigating his own 35 foot yacht through the Caribbean from its base in Grand Cayman.
Mervyn Price commented on his role, “At this stage it is as much about the people, the teams, the technology and the opportunity as anything else. Paragon has assembled a dream team of industry experts and a group of strong and supportive shareholders who share the same vision as the rest of us. I find myself walking into a well constructed and planned phase of a product which I am confident will not only become the world standard in Location Based System technology products, but which offers a deeper purpose, shared with me by the Board of Directors and that being to locate those with special needs should they stray and offer peace of mind and security to their loved ones, and thus this fulfills one of my own visions, that being to offer technology to assist and enhance people’s quality of life. I am extremely impressed with the huge advances and progress Paragon GPS have made in designing, specifying and creating a device so user friendly and look forward to the outreach aspect of my new position as we finalize the first bracelet, enhance it and seek rewarding special needs groups and their care-givers with whom we can team up to beta site test it.”
The GPS/RFID sector is a multi-million dollar sector with no dominant player yet. Paragon has filed four patent applications encompassing multiple claims for superior technology and performance pertaining to Location Tracking and device design. The Company will pursue two new patents in 2011 that will protect the Triangulation Software Interface and Device Circuitry Design.
About Paragon GPS Inc:
Paragon GPS is a consumer products technology company engaged in the research, development and distribution of Location-Tracking Devices. Paragon’s product mix of AssetTracker, PeopleTracker, CarTracker, KeyTracker and PetTracker utilize global positioning satellites to conveniently and accurately track the location of any asset, person, pet or mobile object.
Paragon GPS is headquartered at 17311 Dallas Parkway, Dallas, TX 75248 USA Tel: 972.733.3349
For more info visit http://www.paragongps.com or write to: info(at)paragongps(dot)com
Safe Harbor Statement - This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Paragon GPS Inc., does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
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